News Summary
On December 9, 2025, Magna Mining announced continued high-grade copper and precious metal intersections from its drilling at the R2 exploration target at the past-producing Levack Mine in Sudbury, Ontario. Key intercepts include:
– 25.0% Copper (Cu), 34.7 g/t Platinum+Palladium+Gold (Pt+Pd+Au), and 151 g/t Silver (Ag) over 0.4 metres.
– 18.6% Cu, 38.5 g/t Pt+Pd+Au, and 105.0 g/t Ag over 0.6 metres.
– 12.3% Cu, 22.2 g/t Pt+Pd+Au, and 78.9 g/t Ag over 1.3 metres.
The drilling has extended the known vertical extent of the R2 mineralization to over 200 metres, and the zone remains open for expansion. Management noted that while the individual vein intersections are narrow, they believe the mineralization is part of a regionally significant system and that such veins can thicken quickly over short distances. Drilling continues with four active rigs.
Material Impact
This news is materially positive as it continues to confirm the presence of a high-grade mineralizing system at the Levack Mine’s R2 target, a key future growth asset for the company. However, the impact is tempered by several critical factors when viewed in the context of historical news.
Catalysts
– Q4 2025 Production & Financials: Critically, we need to see if the company met the lower end of its H2 2025 guidance provided in July and November. Any improvement in AISC and a reduction in cash burn at McCreedy West would be a significant positive catalyst.
– Levack PEA Study: An update on the Preliminary Economic Assessment (PEA) for the Levack Mine, which was expected to be awarded by the end of 2025 and completed during 2026.
– Further Levack Drill Results: Specifically, investors should look for indications of the high-grade veins widening, which would be a game-changer for the project’s economics.
– Cash Position: Monitoring the cash balance relative to the quarterly burn rate from operations and exploration expenditures.
Materiality Conclusion
The announcement is rated Material – Positive. It adds significant value and de-risks the company’s most important long-term asset, the Levack Mine. The exceptional grades continue to suggest a robust mineral system. However, the materiality is constrained by the narrow widths of the intercepts and the lack of impact on the company’s immediate challenge: achieving profitable production and stopping the cash burn at the McCreedy West Mine.
